With RSG the bad news always comes out at the close of the ASX business day.
At least the traders on the LSX can take advantage of this announcement.
I suspect that RSG was using COVID19 as a cover for getting rid of some excess staff and the locals will not accept this. RSG's massive admin costs at Syama have not been making any sense over the last 18 or so months, and they were probably trying to reduce the feather bedding.
I expect JW to cave in and just hand over money for lots of people that basically do nothing until the day the mine finally closes. JW stupidly trumpeted the Nafolo (which means treasure in the local lingo) deposit, and ever since the admin costs have skyrocketed. The locals were always going to get hold of some of that local "treasure", any way they could.
loki
RSG Price at posting:
$1.06 Sentiment: None Disclosure: Held
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